FAAC: KWSG receives N3.036bn, LGs get N2.184bn for Oct


By Mathew Denis

The Kwara State Government has received a total of N3, 036, 649, 965.12 as allocation from the Federation Account for the month of October, 2017.
The state Commissioner for Finance, Alhaji Demola Banu, disclosed this on Tuesday in Ilorin. He said that the October allocation recorded a N496, 600, 981.45 reduction from the N3, 533, 295, 946.57 the state government received in September.
A breakdown of the allocation showed that the government got a statutory allocation of N1, 975, 327, 770.78, Value Added Tax (VAT) of N772, 813, 180.21 and exchange difference of N288, 554, 014.13.
Details of the October allocation to the 16 local government councils in the State showed that they got a total of N2, 184, 264, 352.98 , against the N2, 508, 113, 236.17 they received last month.
According to the figures released by the Finance Commissioner, the councils received a statutory allocation of N1, 555, 329, 112.84, Value Added Tax of N438, 614, 308.29 and exchange difference of 190,320,931.85, making a total of N2, 184, 264, 352.98.

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